Why Aren’t Your Employees Filing Expenses on Time?
Many companies struggle with the issues of timely expense submission. Employees are often slow to file expenses, causing frustration on the side of finance managers. Based on various studies, a single expense claim can take up to 20 minutes to file, including filing approval and review. On top of that, 19% of claims are filed incorrectly and it can take, on average, another 18 minutes to fix those errors, causing significant delays in the reimbursement process. A Conferma report showed that 2 in 5 employees have experienced their own cash flow issues due to slow reimbursement processes.